P1racenews AI automatic summary:
A Belgian member of the European Parliament has requested an investigation be made into Formula 1 owner Liberty Media and its proposed acquisition of MotoGP.
Liberty announced their aim to complete a majority acquisition of Dorna Sports by the end of 2024, which includes MotoGP and WorldSBK.Due to this potential deal, Belgian MEP Pascal Arimont has urged the European Commission to investigate Liberty Media for possible breaches of European competition laws.Alejandro Agag, the Chairman of Formula E, has also expressed concerns about the impact of Liberty’s takeover of MotoGP parent company Dorna on competition in the market.Liberty Global’s previous acquisition of a significant stake in Formula E has added to the scrutiny regarding the consolidation of power in the motorsport industry, as noted by Formula E Chairman Agag.Historical precedents, such as the forced sale of MotoGP by CVC Capital Partners due to competition concerns, indicate the potential challenges that Liberty Media may face in completing their proposed transactions involving motorsport entities.Liberty Media has faced criticism in 2024 for their decision to reject Michael Andretti’s bid to establish a team in Formula 1, which has led to investigations by the Antitrust Division related to potential antitrust issues.
